TNONNasdaqSurgical & Medical Instruments & ApparatusFiscal year ends December 31Also trades as TNONW
Tenon Medical, Inc.
Financials through Q2 FY2026, quarter ended Jun 30, 2026Last filing: 10-Q on Aug 13, 2026
$2.45−0.25 (-9.26%)
Close on Oct 19, 2026
- Market cap
- $804
- P/E (TTM)
- –
- Dividend yield
- –
Margins
Share of revenue, fiscal years 2020 to 2025
Gross margin
59.8%
Operating margin
-324.3%
Net margin
-318.4%
Growth rates
Compound annual growth to fiscal 2025
| Per year | 1 year | 3 years | 5 years | 10 years | Five-year pace |
|---|---|---|---|---|---|
| Revenue | +20.4% | +78.7% | – | – | |
| Gross profit | +37.8% | – | – | – |
Returns and balance sheet
6 fiscal years. Hover a measure to see how it is calculated.
| Measure | FY2020 | FY2020 | FY2025 | Trend |
|---|---|---|---|---|
| Return on equity | – | – | -228.1% | |
| Return on assets | – | – | -121.9% | |
| Current ratio | – | – | 2.11 | |
| Interest coverage | – | – | – | |
| Inventory turnover | – | – | 1.9× | |
| Capex to revenue | – | – | 6.9% | |
| Diluted shares | – | – | 0M |
Where the cash went
Fiscal 2021 to 2025, five years combined
Tenon Medical generated $49.12M from operations and spent $1.77M on capital expenditure, dividends and share buybacks. 100% of that went back into the business.
Generated
$49.12M
Used
$1.77M
Capital expenditure$1.77M100%Dividends$00%Share buybacks$00%
DuPont analysis
Return on equity split into margin, efficiency and leverage
Net margin-318.4%
×Asset turnover0.38×
×Equity multiplier1.87×
=Return on equity, FY2025-228.1%
| Fiscal year | Net margin | Asset turnover | Equity multiplier | Return on equity |
|---|---|---|---|---|
| FY2025 | -318.4% | 0.38× | 1.87× | -228.1% |
| FY2024 | -417.2% | 0.40× | 2.40× | -405.2% |
| FY2023 | -532.1% | 0.34× | 2.48× | -443.3% |
| FY2022 | -2737.6% | 0.07× | -1.42× | 264.6% |
Piotroski F-Score
Nine tests of profitability, balance sheet and efficiency, fiscal 2025 against fiscal 2024
3of 8 tests passed in fiscal 2025. Some tests lack the figures they need.
- ProfitableNet income above zero-$12.56M
- Cash generatingOperating cash flow above zero-$10.75M
- Return on assets improvedROA up on the prior year-215.5% → -127.6%
- Earnings backed by cashOperating cash flow above net income-$10.75M vs -$12.56M
- Less leverageLong-term debt to assets fell– → –
- Better liquidityCurrent ratio rose4.39 → 2.11
- No dilutionShare count did not rise0M → 0M
- Gross margin improvedGross margin up on the prior year52.21% → 59.79%
- More efficientAsset turnover rose0.52 → 0.40